Show that the direct sum of a kernel of a projection and its image create the originating vector space.

Take $x \in V$. Since $P=P^2$ we must have $Px=P^2x$ and so $P(x-Px)=0$. Hence $x-Px=\xi$ for some $\xi \in \operatorname{Ker}P$. Thus $x = Px + \xi$. This shows that $V=\operatorname{Im}P + \operatorname{Ker}P$. Now take $y \in \operatorname{Im}P \cap \operatorname{Ker}P$. Since $y \in \operatorname{Im}P$ we have $y=Pz$ for some $z \in V$. Applying $P$ to both sides we get $Py=P^2z$. But $y \in \operatorname{Ker}P$, hence $0=Py=P^2z=Pz=y$. This shows that $\operatorname{Im}P \cap \operatorname{Ker}P=\{0\}$ and so we have $V=\operatorname{Im}P \oplus \operatorname{Ker}P$.